Revvity (NYSE:RVTY) Updates FY 2024 Earnings Guidance

Revvity (NYSE:RVTY) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.830-4.870 for the period, compared to the consensus EPS estimate of 4.750. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Citigroup increased their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Barclays raised shares of Revvity from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Bank of America increased their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.79.

Revvity Trading Up 2.1 %

RVTY stock opened at $121.04 on Monday. Revvity has a 1-year low of $82.17 and a 1-year high of $128.15. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $121.39 and its 200-day moving average is $114.11. The firm has a market cap of $14.93 billion, a P/E ratio of 87.71, a P/E/G ratio of 3.27 and a beta of 1.06.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 20.29%.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the sale, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,807 shares of company stock worth $937,576 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.